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Tuesday, 30 July 2013

Is Nifty Ready to give a Bounce Back? - To Know More, Read on

Though The Nifty has fallen Drastically since 22nd July 2013, it seems it is in a hurry to test the level range of 5699 and 5664. Nifty can give a bounce back from these levels.

Though the general Economic factors are as of now playing a spoil sport for the short term,Technically the nifty chart is nearing its support at 5699 and 5664, where a bounce back can be expected.

Below the level of this range Nifty has a Trendline support of 5615. A breach of this level can bring in more bad news for the Market.The Nifty has already breached its 200 day average on 29th July 2013.

Disclaimer: The Above quoted views are just an indication how the Nifty Index may move in the coming days based on Technical Analysis and in no way suggests any trading or Investing tip.